Overseas Private Investment Corporation; Agency Report Form Under OMB Review

INTERNATIONAL DEVELOPMENT COOPERATION AGENCY

Overseas Private Investment Corporation; Agency Report Form Under

OMB Review

AGENCY: Overseas Private Investment Corporation, IDCA.

ACTION: Request for comments.

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SUMMARY: Under the provisions of the Paperwork Reduction Act (44 U.S.C.

Chapter 35), agencies are required to publish a Notice in the Federal

Register notifying the public that the Agency has prepared an

information collection request for OMB review and approval and has

requested public review and comment on the submission. OPIC published

its first Federal Register Notice on this information collection

request on April 22, 1998, in 63 FR 19946, at which time a 60-calendar

day comment period was announced. This comment period ended June 22,

1998. No comments were received in response to this notice. This

information collection submission has now been submitted to OMB for

review. Comments are again being solicited on the need for the

information, its practical utility, the accuracy of the Agency's burden

estimate, and on ways

[[Page 35280]]

to minimize the reporting burden, including automated collection

techniques and uses of other forms of technology. The proposed form

under review is summarized below.

DATES: Comments must be received within 30-calendar days of this

Notice.

ADDRESSES: Copies of the subject form and the request for review

submitted to OMB may be obtained from the Agency Submitting Officer.

Comments on the form should be submitted to the OMB Reviewer.

FOR FURTHER INFORMATION CONTACT:

OPIC Agency Submitting Officer: Carol Brock, Records Manager, Overseas

Private Investment Corporation 1100 New York Avenue, N.W., Washington,

D.C. 20527; 202/336-8563.

OMB Reviewer: Victoria Wassmer, Office of Information and Regulatory

Affairs, Office of Management and Budget, New Executive Office

Building, Docket Library, Room 10102, 725 17th Street, N.W.,

Washington, D.C. 20503, 202/395-5871.

SUMMARY OF FORM UNDER REVIEW:

Type of request: Revision.

Title: Request for Registration for Political Risk Investment

Insurance.

Form Number: OPIC 50.

Frequency of Use: Once per investor per project.

Type of Respondents: Business or other institutions.

Standard Industrial Classification Codes: All.

Description of Affected Public: U.S. Companies investing overseas.

Reporting Hours: \1/2\ hour per project.

Number of Responses: 850 per year.

Federal Cost: $1060 per year.

Authority for Information Collection: Sections 231 and 234 (a) of

the Foreign Assistance Act of 1961, as amended.

Abstract (Needs and Uses): OPIC 50 is submitted by eligible

investors to register their intent to make international investments,

and ultimately, to seek OPIC insurance. By submitting Form 50 to OPIC

prior to making an irrevocable commitment, the incentive effect of OPIC

is demonstrated.

Dated: June 24, 1998.

Laura Naide,

Senior Counsel, Department of Legal Affairs.

[FR Doc. 98-17257 Filed 6-26-98; 8:45 am]

BILLING CODE 3210-01-M